8:41 AM Marine Propeller Market Size to experience an impressive growth of 4.2% |
| Marine Propeller Market is likely to witness an impressive CAGR of 4.2% during the forecast period. Increased demand for marine propellers from the new shipbuilding & repair market, growth in international seaborne trade and maritime tourism are the major factors expected to bolster the global marine propeller market.
Click here to get a Free Sample of the report (with additional insights) Or Read the summary of the report here Marine Propeller Market Insights: By Application Type: Based on the application type, the market is segmented as merchant ships, naval ships, recreational boats, and others. The merchant ships segment is expected to witness the highest growth during the forecast period. The growth of the segment can be attributed to the growing demand for imported goods. The International Chamber of Shipping (ICS) estimates, more than 50,000 merchant ships are engaged in transporting cargos internationally. In addition, as per the United Nations Conference on Trade and Development (UNCTAD), the Greek merchant fleet is considered to be the largest, globally encompassing 4,017 ships; it accounts for over 16% share of the world’s total tonnage. By Number of Blades Type: Based on the number of blades type, the market is segmented as 3-blade, 4-blade, 5-blade, and others. The 5-blade segment is likely to register the highest growth during the forecast period, owing to the fact that 5-blade propellers offer improved propulsion efficiency and deliver lesser vibration as compared to 4-blade propellers. By Propulsion Type: Based on the propulsion type, the market is segmented as inboard, outboard, sterndrive, and others. The sterndrive segment is estimated to portray the highest growth during the forecast period. The growth of the segment is owing to the growing demand for ships equipped with sterndrive propulsion systems. These systems incorporate an outboard unit that is attached to the inboard gas or diesel engine located at the rear of the boat. By Region: In terms of regions, the marine propeller market in Europe is estimated to witness the highest growth during the forecast period. The market is driven by the European shipbuilding industry, which is engaged in the construction of intricate naval vessels, such as ferries, cruise ships, mega yachts, dredgers (offshore vessels), and submarines. Further, the European marine equipment industry offers a plethora of products that comprise diesel engines, propulsion systems, cargo handling systems, environmental safety systems, and related electronics. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period. Click below to run through the detailed ToC of the report Features of the Report This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. Based on the research, a proper report is crafted with the following key features:
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